Colton Groome Financial Advisors LLC Purchases 315 Shares of Broadcom Inc. (NASDAQ:AVGO)

Colton Groome Financial Advisors LLC increased its position in Broadcom Inc. (NASDAQ:AVGO) by 18.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,055 shares of the semiconductor manufacturer’s stock after acquiring an additional 315 shares during the period. Broadcom comprises about 1.0% of Colton Groome Financial Advisors LLC’s investment portfolio, making the stock its 26th biggest holding. Colton Groome Financial Advisors LLC’s holdings in Broadcom were worth $2,294,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. State Street Corp grew its holdings in Broadcom by 5.0% during the first quarter. State Street Corp now owns 16,632,123 shares of the semiconductor manufacturer’s stock valued at $10,670,149,000 after purchasing an additional 794,832 shares during the period. Morgan Stanley grew its holdings in Broadcom by 12.5% during the fourth quarter. Morgan Stanley now owns 5,878,874 shares of the semiconductor manufacturer’s stock valued at $3,287,056,000 after purchasing an additional 651,014 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Broadcom by 11.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 4,682,635 shares of the semiconductor manufacturer’s stock valued at $2,948,563,000 after purchasing an additional 488,405 shares during the period. Northern Trust Corp grew its holdings in Broadcom by 2.1% during the third quarter. Northern Trust Corp now owns 4,655,402 shares of the semiconductor manufacturer’s stock valued at $3,866,684,000 after purchasing an additional 93,615 shares during the period. Finally, Nuveen Asset Management LLC grew its holdings in Broadcom by 4.4% during the second quarter. Nuveen Asset Management LLC now owns 4,280,218 shares of the semiconductor manufacturer’s stock valued at $3,712,789,000 after purchasing an additional 179,272 shares during the period. Institutional investors own 76.43% of the company’s stock.

Broadcom Trading Down 1.8 %

Shares of NASDAQ:AVGO traded down $23.64 during trading on Thursday, hitting $1,258.99. The company had a trading volume of 2,486,763 shares, compared to its average volume of 2,947,770. The stock has a market cap of $583.44 billion, a price-to-earnings ratio of 46.86, a price-to-earnings-growth ratio of 2.71 and a beta of 1.25. Broadcom Inc. has a one year low of $601.29 and a one year high of $1,438.17. The company has a fifty day simple moving average of $1,307.00 and a two-hundred day simple moving average of $1,115.19. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.95 by $2.04. The business had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The company’s revenue for the quarter was up 34.2% on a year-over-year basis. During the same period last year, the company earned $9.83 EPS. As a group, equities analysts forecast that Broadcom Inc. will post 35.88 earnings per share for the current year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were paid a $5.25 dividend. This represents a $21.00 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s payout ratio is 77.84%.

Analysts Set New Price Targets

Several analysts have issued reports on AVGO shares. Evercore ISI started coverage on Broadcom in a report on Tuesday. They set an “outperform” rating and a $1,620.00 price target for the company. TD Cowen upgraded Broadcom from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $1,400.00 to $1,500.00 in a research report on Thursday, March 21st. Oppenheimer reiterated an “outperform” rating and set a $1,500.00 target price (up previously from $1,100.00) on shares of Broadcom in a research report on Friday, March 1st. UBS Group increased their target price on Broadcom to $1,480.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. Finally, Barclays increased their target price on Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $1,285.41.

Insider Activity

In other news, Director Kenneth Hao sold 9,160 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the completion of the sale, the director now directly owns 45 shares of the company’s stock, valued at approximately $62,465.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Charlie B. Kawwas sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the completion of the sale, the insider now directly owns 16,575 shares of the company’s stock, valued at approximately $22,276,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kenneth Hao sold 9,160 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the sale, the director now directly owns 45 shares of the company’s stock, valued at $62,465.85. The disclosure for this sale can be found here. Insiders sold 29,920 shares of company stock valued at $40,306,667 in the last ninety days. Insiders own 2.00% of the company’s stock.

Broadcom Company Profile

Broadcom Inc designs, develops, and supplies various semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.